Labor reallocation and unemployment fluctuations: a tale of two tails

Bakas, D ORCID: https://orcid.org/0000-0003-4771-4505, Panagiotidis, T and Pelloni, G, 2024. Labor reallocation and unemployment fluctuations: a tale of two tails. International Journal of Finance and Economics, 29 (3), pp. 3444-3468. ISSN 1076-9307

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Abstract

This paper examines the sectoral shifts hypothesis for the US regional labour market using a quantile panel framework. We use a monthly panel dataset that spans over 1990–2016 for the 48 US states and employ a dynamic quantile panel data regression approach to investigate the asymmetric nature of the relationship between sectoral labour reallocation and unemployment fluctuations. The empirical evidence suggests that the impact of the employment dispersion index is relatively small and insignificant for lower levels of unemployment but becomes positive and highly significant for higher rates. Our findings bear out the asymmetry of reallocation disturbances for the US labour market.

Item Type:	Journal article
Publication Title:	International Journal of Finance and Economics
Creators:	Bakas, D., Panagiotidis, T. and Pelloni, G.
Publisher:	Wiley
Date:	July 2024
Volume:	29
Number:	3
ISSN:	1076-9307
Identifiers:	Number Type 10.1002/ijfe.2845 DOI 1763038 Other
Rights:	© 2023 the authors. International Journal of Finance & Economics published by John Wiley & Sons Ltd. This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.
Divisions:	Schools > Nottingham Business School
Record created by:	Laura Ward
Date Added:	22 May 2023 13:57
Last Modified:	10 Jul 2024 10:12
URI:	https://irep.ntu.ac.uk/id/eprint/49045

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